Bank Nifty Weekly Expiry Analysis

  • As discussed in last analysis  Now Bears need to break 19200 for move to continue towards 19044/18915/18769. Bulls need to move above 19683 for a move towards 19925/20164. 06 May is important astro date and also neural turn date. Bank Nifty did almost 2 target and saw a strong reversal.As we have weekly expiry tommrow , Bulls need to move above 19810 for a move towards 20000/20225. Bears need to break 19370 for move to continue towards 19154/19000/18769.

  • Bank Nifty May Future Open Interest Volume is at 14.7  lakh with addition of 0.94 Lakh, with increase in Cost of Carry suggesting shorts positions were added today. Bank nifty Rollover cost @20762 closed below it
  • 20000 CE is having highest OI @6 Lakh resistance at 20000 followed 20300.19000-22000 CE added 12 Lakh in OI so bears added position in the zone of 20000-21500.
  • 19000 PE is having highest OI @2.9 Lakh, strong support at 19000 followed by 188000.19000-20000 PE added 12 Lakh OI so bulls making support in the range of 19000-18800.

Buy Above 19810 Tgt 19929,20020 and 20119 (Bank Nifty Spot Levels)

Sell Below 19400 Tgt 19269,19100 and  18920 (Bank Nifty Spot Levels)

Upper End of Expiry: 20119

Lower End of Expiry : 19269

1 thought on “Bank Nifty Weekly Expiry Analysis”

  1. Brahmesh ji, the support and resistance levels provided by you are so accurate & precise on a daily basis. Thanks much!

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